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REGISTERED NUMBER: 07578751 (England and Wales)












CARE & REPAIR SOLUTIONS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2023






CARE & REPAIR SOLUTIONS LTD (REGISTERED NUMBER: 07578751)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CARE & REPAIR SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: C R Jones
N Bennett
R I Davies
B T Simmonds Owen





SECRETARY: E Tweed





REGISTERED OFFICE: Llys Tawe Complex
Players Industrial Estate
Clydach
Swansea
SA6 5BQ





REGISTERED NUMBER: 07578751 (England and Wales)





AUDITORS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

CARE & REPAIR SOLUTIONS LTD (REGISTERED NUMBER: 07578751)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,333 6,991
Tangible assets 5 48,664 70,390
51,997 77,381

CURRENT ASSETS
Stocks 32,660 26,377
Debtors 6 256,382 167,865
Cash at bank and in hand 48,462 212,005
337,504 406,247
CREDITORS
Amounts falling due within one year 7 123,460 212,607
NET CURRENT ASSETS 214,044 193,640
TOTAL ASSETS LESS CURRENT
LIABILITIES

266,041

271,021

PROVISIONS FOR LIABILITIES 11,328 16,951
NET ASSETS 254,713 254,070

RESERVES
Retained earnings 254,713 254,070
254,713 254,070

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by:





C R Jones - Director


CARE & REPAIR SOLUTIONS LTD (REGISTERED NUMBER: 07578751)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Care & Repair Solutions Lts is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in Sterling (£), the company's functional currency, and rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The Board of Management of Care & Repair Solutions and the Board of Trustees of Care and Repair Western Bay have agreed to make the trading arm a dormant company from 1st April 2024 and to transfer all assets and trade to the parent company. All operations in Care & Repair Solutions will cease at 1st April 2024 and all activities and staffing will transfer to the Charity. Care & Repair Solutions will remain open to settle all obligations and liabilities as they fall due with the long term plan to commence the dormancy process as time naturally progresses.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Government grants
Government grants in respect of capital expenditure are released to the profit and loss account over the estimated useful life of the asset acquired. Grants in respect of revenue expenditure are released so as to match the grant with the relevant cost.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Intangible assets, which relate to a database, are stated at costs less accumulated depreciation. Cost included relate directly to costs attributable to making the asset capable of operating as intended.

Amortisation is provided at 25% straight line in order to write off each asset over its useful estimated life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


CARE & REPAIR SOLUTIONS LTD (REGISTERED NUMBER: 07578751)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Current tax
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an un-discounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Pension costs and other post-retirement benefits
The company participates in the Social Housing Pension Scheme (SHPS) defined contribution pension scheme. Contributions payable for the year are charged in the profit and loss account in the period to which they relate.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2022 - 31 ) .

CARE & REPAIR SOLUTIONS LTD (REGISTERED NUMBER: 07578751)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 14,635
AMORTISATION
At 1 April 2022 7,644
Charge for year 3,658
At 31 March 2023 11,302
NET BOOK VALUE
At 31 March 2023 3,333
At 31 March 2022 6,991

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 165,485
Additions 13,646
At 31 March 2023 179,131
DEPRECIATION
At 1 April 2022 95,095
Charge for year 35,372
At 31 March 2023 130,467
NET BOOK VALUE
At 31 March 2023 48,664
At 31 March 2022 70,390

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 28,741 47,385
Other debtors 227,641 120,480
256,382 167,865

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 88,996 61,886
Taxation and social security 9,630 31,611
Other creditors 24,834 119,110
123,460 212,607

CARE & REPAIR SOLUTIONS LTD (REGISTERED NUMBER: 07578751)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Henri Lloyd Davies (Senior Statutory Auditor)
for and on behalf of Bevan Buckland LLP

9. POST BALANCE SHEET EVENTS

The Board of Management of Care & Repair Solutions and the Board of Trustees of Care and Repair Western Bay have agreed to make the trading arm a dormant company from 1st April 2024 and to transfer all assets and trade to the parent company. All operations in Care & Repair Solutions will cease at 1st April 2024 and all activities and staffing will transfer to the Charity. Care & Repair Solutions will remain open to settle all obligations and liabilities as they fall due with the long term plan to commence the dormancy process as time naturally progresses.

10. PARENT UNDERTAKING

The company regards Care & Repair Western Bay, a company registered in England and Wales, as its ultimate parent company. Its principal place of business is Lys Tawe Complex, Players Industrial Yard, Clydach, Swansea SA6 5BQ.